Tag: Support

BNB Coin Price Hits Critical Support Level: Is a Rebound on the Horizon?

BNB price started a downside correction from the $585 zone. The price must stay above $570 to start a fresh increase in the near term. BNB price started a fresh decline after it failed to clear the $585 resistance zone. The price is now trading below $580 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $570 on the hourly chart of the BNB/USD pair (data source from Binance). The pair could start a fresh increase if it stays above…

Crypto Exchange Kraken Mulls Pulling Support for Top Stablecoin USDT in the EU: Report

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The San Francisco-based crypto exchange Kraken is reportedly mulling whether to pull support for the stablecoin USDT in the European Union (EU). Bloomberg reports that Kraken is “actively reviewing” its European support for the Tether-issued stablecoin. European digital asset trade associations and think tanks have warned that the EU’s Markets in Crypto-Assets Regulation (MiCA) could ban the largest stablecoins by trading volume. MiCA is the upcoming EU legislation that will provide rules covering the supervision, consumer protection and environmental safeguards of crypto assets. The law also includes measures that aim…

Tens of Thousands Show Overwhelming Support for Abolishing the Fed, US Policymaker’s Poll Reveals

On May 15, Thomas Massie, a Republican member of the United States House of Representatives, posted on X, inquiring whether he should introduce legislation to abolish the U.S. Federal Reserve. The poll garnered over 115,000 votes, with a significant 86% majority opting to “end the Fed.” Rep. Thomas Massie Questions Introducing Bill to Abolish U.S. […] Source CryptoX Portal

Solana On The Brink? Price Stalemate At Crucial $140 Support

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Solana (SOL), the high-speed blockchain network, is facing a balancing act. While experiencing a short-term price bump, analysts warn of a potential plunge if a key technical level crumbles. Related Reading Bullish Flicker Amidst Bearish Gloom SOL’s price has seen a recent uptick of 3.60%, currently hovering around $162. However, this seemingly positive movement comes against the backdrop of a broader downward trend. Analysts attribute this shift to a change in market sentiment. Meanwhile, the altcoin’s RSI is 48, which denotes a neutral position. As a result, SOL has room…

Key Support Maintained Amid Market Uncertainty

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Bitcoin price is holding the key support at $60,000. BTC could start another increase and rise toward the range resistance at $63,500. Bitcoin is still trading in a range between $60,000 and $63,500. The price is trading above $61,500 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $61,550 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears $62,200 and $62,500. Bitcoin Price Remains Steady Bitcoin price…

Top Crypto Exchange Binance To Roll Out Support for New Altcoin Connected to Telegram Game

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Top global crypto exchange Binance plans to launch trading support for a new altcoin connected to a viral game on the encrypted messaging platform Telegram. Binance plans to roll out support for NOT, a community token for the popular Telegram-based tap-to-earn mining game Notcoin, via its Launchpool platform, which lets users stake coins to farm new assets. Between May 13th and 16th, Binance users can stake BNB, the crypto exchange platform’s native asset, as well as the stablecoin First Digital USD (FDUSD) into separate pools to farm NOT tokens. The…

Optimism Stack Update: OP to Support Layer Three With Funding, Features, and Revenue Sharing

Ethereum scaling solution provider Optimism announced plans to enhance blockchain throughput by integrating Layer three applications on top of its OP Stack, aiming to foster a Superchain network where Layer threes can build and share revenue with the Optimism Collective. The OP Stack, an open standard codebase, extends its utility beyond Layer two deployers to […] Source CryptoX Portal

Ethereum Price Looks Ready For Another Leg Higher Over If It Holds Support

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Ethereum price is extended losses and tested the $2,940 support. ETH could start a fresh increase if it clears the $3,000 and $3,030 resistance levels. Ethereum remained in a bearish zone and traded below the $3,000 level. The price is trading below $3,050 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $2,980 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $2,940 support to start another increase toward $3,220. Ethereum Price Dips…

Algorand Market Cap And TVL Skyrocket As ALGO Faces Critical Support Test

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Blockchain platform Algorand achieved notable gains in key metrics during the year’s first quarter (Q1), aligning with the overall upward trend observed in the crypto market ecosystem.  However, despite this growth, its native token ALGO experienced a 22% price decrease since the beginning of Q2, putting a critical support line to the test and raising questions about the cryptocurrency’s prospects. Algorand Revenue Skyrockets According to a report by Messari, Algorand’s revenue witnessed a substantial 1,747% quarter-on-quarter (QoQ) surge, primarily driven by a 288% increase in transactions and a 50% rise…

Injective (INJ) Price In Danger If It Falls To Crucial Support Level: Analyst

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INJ, the native token of the Injective Network, commenced May with a fluctuating price action marked by a series of significant losses and gains. As INJ attempts to establish a stable price trajectory, popular market analyst with X handle Crypto Tony has highlighted a pivotal support zone for the altcoin in the coming weeks.  INJ Must Not Fall Below $19.30 Level, Analyst Warns In an X post on Friday, Crypto Tony shared a vital insight on the INJ market which could create a sentiment of caution among many traders. The…